Conditions of acceptance - CAF Company Account
With effect from 1 May 2014
The following is a statement of the usual conditions which apply
to funds donated to the Foundation.
1. A contribution is taken for the work and grant making
activities of CAF itself. The CAF contribution scale is outlined on
the CAF Company Account
Fee Schedule.
Please note that the contribution to CAF includes your account
administration costs which are inclusive of VAT.
These sums are indexed annually on 1 May according to the
movement in the RPI (as at the previous December) rounded to
the nearest £500.
Contributions are deducted from a CAF Company Account as and
when funds are paid into the account and at the end of April if no
donations have been made into the account during the CAF accounting
period. An adjusting entry will be debited in April to ensure that
the £50 annual minimum is achieved.
CAF Company Accounts that are opened specifically to hold funds
relating to Give As You Earn administration fees, matching payments
and other CAF services will not be subject to any CAF
contributions.
2. CAF’s Trustees are obliged to apply a part of each donation
into a CAF Company Account as a contribution to support the work of
their Founder, the National Council for Voluntary Organisations
(NCVO). This fee is calculated as follows:
- 1% on cumulative sums up to £107,500*
- Cumulative sums of £107,500 and over in the CAF
accounting period will incur a maximum NCVO deduction of
£1,075*
* These sums are indexed annually on 1 May according to the
movement in the RPI (as at the previous December) rounded to the
nearest £500.
CAF Company Accounts that are opened specifically to hold funds
relating to Give As You Earn administration fees, matching payments
and other CAF services are not subject to NCVO contributions.
3. The Trustees have the same power of investment in respect of
donated funds as they have in respect of the Foundation’s other
property under the terms of its Trust Deed.
4. Pending distribution in accordance with a direction, the
Trustees will apply donated funds for charitable purposes by
investing them in such manner as they think fit and the resulting
income and gains shall be income and gains of the Foundation.
5. The Trustees will distribute donated funds among such
charities as the donor shall in writing from time to time direct or
failing such direction, as the Trustees shall in their absolute
discretion determine.
6. The Trustees shall be entitled to refuse to distribute funds
to any institution which does not make its accounts available for
inspection by the public.
7. The donor acknowledges that the Trustees do not take any
responsibility for the suitability of any particular recipient.
8. The Trustees reserve the right to recover from the donor sums
of money which it is required to repay to HM Revenue & Customs
for any reason including infringements of the ‘benefit rules’ which
apply to Gift Aid.
Information on the benefit rules is available from the
Foundation or from HM Revenue & Customs.
9. The Trustees reserve the right to revise these Conditions of
Acceptance on giving three months’ notice.